BUS708 Statistics and Data Analysis

BUS708 Statistics and Data Analysis :

BUS708 Statistics and Data Analysis
BUS708 Statistics and Data Analysis

1.OVERVIEW OF THE BUS708 Statistics and Data Analysis ASSIGNMENT

This BUS708 Statistics and Data Analysis assignment will test your skill to present and summaries data as well as to make basic statistical inferences in a business context. You will use the results and any feedback given in the first BUS708 Figures and Data Analysis assignment (Assessment 3, Excel Report) and produce a single report in a word document. You will need to construct interval estimates, perform suitable hypothesis tests and regression analysis, and make conclusion and suggestion for management action.

Your BUS708 Figures and Data Analysis report should be written in a word document (or other word processing application) and should be submitted to Turnitin either as a .docx or .pdf file format following the requirement explained below.

2 .Statistics Analysis TASK DESCRIPTION

There are two datasets involved in this BUS708 Figures and Data Analysis assignment: Dataset 1 and Dataset 2, which are the same datasets used in the first BUS708 Figures and Data Analysis assignment (Assessment 3, Excel Report). Please refer to Assessment 3 Description for the details about these datasets. All data processing and calculation should be performed in Excel or Statkey (http://www.lock5stat.com/StatKey), hence you should not use a statistical table to find critical value or p-value. Specific instructions as to which computer tools should be used for each section will be given during tutorials.

Your tasks are to answer the following research questions given in Section 2 to Section 6 below using dataset 1 or dataset 2 as indicated in each section. To answer each question, you will need to first present the relevant numerical summary (summary statistics) and graphical display, which you should have done in BUS708 Figures and Data Analysis Assessment 3 (Excel Report), and then perform suitable statistical analysis to make inferences and to provide conclusions.

Your BUS708 Figures and Data Analysis tasks are described below.

Section 1: Introduction

Provide a brief and clear introduction about the BUS708 Figures and Data Analysis report (e.g. the objective(s) of the report, the datasets involved, etc.).

Find 1-3 articles (minimum one article, maximum three articles) which are relevant to any of the research questions given in Section 2 to Section 6 and then write a proper literature review. Your literature review should include in-text citation and you will need to add a reference list at the end of your report.

It is expected that this section will be around 2 – 3 paragraphs.

Section 2: Do you believe that the population proportion of those who do not smoke could be 60%?

Using Dataset 1, provide the frequency and the proportion (either as a decimal or a percentage) for each category for the variable Smoking. You also need to provide a graphical display that easily shows the proportion of each category.

Then, construct a 95% confidence interval of the population proportion related to the question above.

Finally, write a comment about your findings and answer the question using the confidence interval.

Section 3: Is the Average insurance charge more than $12500?

Using Dataset 1, describe the distribution of the variable charges. You need to provide numerical summary (sample size, mean, standard deviation and median) as well as graphical display which shows the outliers, if any.

Then perform a suitable hypothesis test relevant to the question above, at 5% level of significance.

Finally, write a comment about your findings and answer the question using the hypothesis test result.

Section 4: Is there a difference in the daily charges among the four regions?

Using Dataset 1, provide the numerical summary of the variable charges grouped by the four regions: Southwest, Southeast, Northwest and Northeast. You need to provide both numerical summary as well as graphical display which shows any outliers.

Then, perform a suitable hypothesis test relevant to the question above, at 5% level of significance.

Finally, write a comment about your findings and answer the question using the hypothesis test result.

Section 5: Can we predict the insurance charge by the BMI?

Using Dataset 1, describe the relationship between the BMI and Insurance charges. You need to provide both numerical summary as well as graphical display.

Next, perform a regression analysis and provide the regression output.

Finally, interpret the correlation coefficient, the coefficient of determination and the relevant p-values and use them to answer the question above.

Section 6: Is there an association between the two categorical variables (relevant to your own research question)?

Using Dataset 2 that you collected in the previous BUS708 Figures and Data Analysis assignment, describe the relationship between the two variables. You need to provide both numerical summary and a graphical display.

Then, perform a suitable hypothesis test to answer the research question that you proposed in the previous BUS708 Figures and Data Analysis assignment. Use a 5% significance level.

Section 7: Conclusion

Write a summary of all the findings in the previous sections and then write concluding statements that would benefit a stake holder (e.g. individuals, insurance companies, insurance brokers, etc) to take management action.

Finally, suggest further research by discussing an interesting topic or a research question that can be further explored related to the datasets and/or the findings.

3.SUBMISSION REQUIREMENT

Deadline to submit the report: Tuesday, 23 May 2023, 11:59pm (Sydney Time)

You need to submit a word document file (or a pdf) of ±1500 words to Turnitin (the link is given on Moodle under the heading BUS708 Figures and Data Analysis Assessment 4). Your document should show all computer outputs (numerical summary & graphs) and discussion. You should not submit the dataset. You should not submit the Excel file.

You should submit a correct file, in any case of submitting an incorrect file, resubmission may be

approved for a valid reason, but this may attract mark deduction.

4 .MARKING CRITERIA

Students are advised to read the marking rubric provided on Moodle.

5.DEDUCTION, LATE SUBMISSION AND EXTENSION

Late submission penalty: – 5% of the total available marks per calendar day unless an extension is approved. This means 0.75 marks (out of 15 marks) per day.

For extension application procedure, please refer to Section 3.2. b) of the Subject Outline. Please do NOT email the lecturer or tutor to seek an extension, you need to follow the procedure described in the Subject Outline.

6.PLAGIARISM

Please read Section 3.2. c) Referencing and Plagiarism, from the Subject Outline. Below is part of the statement:

“Students plagiarising run the risk of severe penalties ranging from a reduction through to 0 marks for a first offence for a single BUS708 Figures and Data Analysis assessment task, to exclusion from KOI in the most serious repeat cases. Exclusion has serious visa implications.”

“Authorship is also an issue under Plagiarism – KOI expects students to submit their own original work in both BUS708 Figures and Data Analysis assessment and exams, or the original work of their group in the case of a group project. All students agree to a statement of authorship when submitting BUS708 Figures and Data Analysis assessments online via Moodle, stating that the work submitted is their own original work.

The following are examples of academic misconduct and can attract severe penalties:

  • Handing in work created by someone else (without acknowledgement), whether copied from another student, written by someone else, or from any published or electronic source, is fraud, and falls under the general Plagiarism guidelines.
  • Students who willingly allow another student to copy their work in any BUS708 Figures and Data Analysis assessment may be considered to assisting in copying/cheating, and similar penalties may be applied. ”

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